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The Global Outlook
- China's growth, in contrast, is anticipated to decline from the earlier IMF estimate of 4.4 per cent to 3.3 per cent in 2022.
- Other emerging markets and developing economies, such as South Africa, Brazil, and Russia, saw an increase in their economic estimates due to a better outlook.
Source: Safalta.comThe IMF also lowered its forecast for world growth and issued a warning that a worldwide recession might be on the horizon soon.
- Rather than the 3.6 per cent anticipated by the fund in April, the global economic expansion would likely fall to 3.2 per cent this year.
- The fund claimed that a number of shocks, including increased inflation, tighter monetary policy, a worsening slowdown in the world's major markets, and negative spillovers from the Russia-Ukraine war, had affected the global economy, which was already weakened by the pandemic.
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